Title of each classTrading Symbol(s)Name of each exchange on which registered Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20429 (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Or For the transition period from to PRINCETON BANCORP, INC. (Exact name of registrant as specified in its charter) 183 Bayard Lane, Princeton, New Jersey 08540 (Address of principal executive offices) (Zip Code) Securities registered or to be ...

Princeton Bancorp (BPRN) came out with quarterly earnings of $0.68 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.95 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.49%. A quarter ago, it was expected that this bank would post earnings of $0.77 per share when it actually produced earnings of $0.82, delivering a surprise of 6.49%.Over the last four quarters, the company has ...

Financial Performance - Net income for the first quarter of 2024 was $4.3 million, or $0.68 per diluted common share, down from $5.3 million, or $0.82 per diluted common share, in the fourth quarter of 2023[5]. - Net income decreased to $4,345 thousand for the three months ended March 31, 2024, down 28.7% from $6,097 thousand in the same period last year[35]. - Net income decreased to $4,345 million, down 17.7% from $5,282 million[36]. - Return on average assets declined to 0.89%, down from 1.09%[41]. - Return on average equity decreased to 7.27%, compared to 8.93%[41]. Asset and Loan Growth - Net loans for the quarter increased by $22.9 million, representing a 5.9% annualized growth rate[2]. - Total assets were $1.99 billion on March 31, 2024, an increase of $71.5 million, or 3.73%, compared to $1.92 billion at the end of 2023[6]. - Total loans increased to $1,573,556 thousand in March 2024, up from $1,550,133 thousand in December 2023, representing a growth of 1.5%[34]. - Loans receivable net of deferred loan fees rose to $1,571,231 thousand, reflecting a 1.48% increase from $1,548,335 thousand[22]. Deposit Growth - Total deposits on March 31, 2024, increased by $69.9 million, or 4.27%, compared to December 31, 2023[3]. - Total deposits reached $1,705,620 thousand, a 4.27% increase from $1,635,741 thousand[22]. - Total deposits increased to $1,705,620 thousand in March 2024, up from $1,635,741 thousand in December 2023, marking a growth of 4.3%[34]. Non-Interest Income and Expense - Total non-interest income for the first quarter of 2024 was $1.9 million, an increase of $206 thousand or 11.6% compared to the fourth quarter of 2023[12]. - Non-interest income increased by 44.5% to $1,985 thousand, compared to $1,374 thousand in the prior year[35]. - Total non-interest income rose to $1,985 million, an increase of 11.6% from $1,779 million[36]. - Total non-interest expense for the first quarter of 2024 was $11.8 million, an increase of $887 thousand, or 8.1%, compared to the fourth quarter of 2023[14]. - Non-interest expense increased to $11,836 million, up 8.1% from $10,949 million[36]. Asset Quality - Non-performing assets decreased to $2.1 million from $6.7 million at year-end 2023[2]. - Nonperforming loans decreased to $2,115 million, down from $6,708 million[41]. - The allowance for credit losses remained stable at $18,618 thousand, slightly up from $18,492 thousand in December 2023[34]. - Provision for credit losses significantly reduced to $186 million, a decrease of 66.9% from $562 million[36]. Equity and Capital Ratios - The ratio of equity to total assets at March 31, 2024, was 12.2%, down from 12.5% at December 31, 2023[8]. - Total stockholders' equity rose to $241,808 thousand, a 0.66% increase from $240,211 thousand[22]. - Total capital to risk-weighted assets ratio is at 14.31%, down from 14.68%[41]. Other Financial Metrics - The effective tax rate for the first quarter of 2024 was 19.7%, compared to 15.9% for the fourth quarter of 2023[15]. - The net interest margin for the quarter was reported at 3.42%[29]. - The net interest margin (FTE) was reported at 3.42%, down from 3.55% in the previous period, indicating a slight compression in margins[35]. - The efficiency ratio improved to 42.1%, indicating better cost management compared to the previous period[33]. - Book value per common share increased to $38.26, up 0.58% from $38.04[22]. - The tangible book value per common share was $36.65, reflecting a 0.66% increase from $36.41[22]. - The tangible book value per common share was reported at $38.00, reflecting a stable equity position[33]. - Total interest and dividends rose to $28,066 thousand, reflecting a significant increase of 36.2% from $20,612 thousand year-over-year[35]. - Total interest and dividends increased to $28,066 million, a 1.9% increase from $27,554 million[36]. - Net interest income for the three months ended March 31, 2024, was $15,448 thousand, a decrease of 7.3% compared to $16,661 thousand for the same period in 2023[35]. - Net interest income decreased to $15,448 million, down 3.5% from $16,010 million[36]. Acquisition - The Company announced the acquisition of Cornerstone Financial Corporation with total assets of over $300 million, expected to close in the second or third quarter of 2024[5]. Stock Repurchase - The company commenced treasury stock repurchases on March 8, 2024, as part of a program announced on August 10, 2023[22].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20429 - OR - Commission File Number: 001-41589 183 Bayard Lane, Princeton, NJ 08540 (Address of Principal Executive Offices) (Zip Code) Securities registered pursuant to Section 12(g) of the Act: Common stock, no par value BPRN The Nasdaq Global Select Market (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 For the transition period ...

For the quarter ended December 2023, Princeton Bancorp (BPRN) reported revenue of $17.79 million, down 7.5% over the same period last year. EPS came in at $0.82, compared to $1.13 in the year-ago quarter.The reported revenue represents a surprise of -3.71% over the Zacks Consensus Estimate of $18.48 million. With the consensus EPS estimate being $0.77, the EPS surprise was +6.49%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall ...

Princeton Bancorp (BPRN) came out with quarterly earnings of $0.82 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.49%. A quarter ago, it was expected that this bank would post earnings of $0.61 per share when it actually produced earnings of $1.02, delivering a surprise of 67.21%.Over the last four quarters, the company ha ...

Title of each classTrading Symbol(s)Name of each exchange on which registered FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 183 Bayard Lane, Princeton, New Jersey 08540 (Address of principal executive offices) (Zip Code) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for su ...

Common stock, no par value BPRN The Nasdaq Global Market For the quarterly period ended June 30, 2023 For the transition period from __________ to __________ (609) 921-1700 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required ...

Note 7 – Fair Value Measurements and Disclosures (continued) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------|-------|-----------------|-------|------------------------|-------|---------------------------------------------|-------|-----------|-------|-----------| | Financial Assets: | | Carrying Amount | | Estimated Fair Value | | December 31, \nLevel 1 (In thousands) | 2022 | Level 2 | | Level 3 | | Cash and cash equivalents | $ | 53,351 | | $ 53,351 | ...

Table of Contents | --- | --- | --- | --- | --- | |-----------------------------------------------------------|----------------------|-----------------------------------------------------------------|----------------------|---------------------------------------------------------| | (Dollars in thousands) \nCommercial real estate | Amount \n$ 8,554 | 2022 \nLoan Balance as % of Total Loans \n63.6% | Amount \n$ 7,458 | 2021 \nLoan Balance as % of Total Loans \n57.5% | | Commercial and industrial | 271 | 2.1% ...